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All last week four sea post clerks aboard the United States liner President Roosevelt kept a 24-hr, guard over the ship's vault. Inside it reposed the famed Jonker diamond, world's largest uncut gem and the largest privately owned diamond anywhere. Discovered by a South African farmer named Jonker last year (TIME, Jan. 29, 1934), the stone weighs 726 carats (about five ounces), is bigger than a hen's egg.

Few months ago a Manhattan gem dealer named Harry Winston bought the Jonkers diamond for $730,000, had it insured for $1,000,000 by St. Paul...

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